Corporate Reputation Management Is Key to Economic Growth in SA CORPORATE FOCUS

Cape Times (South Africa), July 12, 2018 | Go to article overview

Corporate Reputation Management Is Key to Economic Growth in SA CORPORATE FOCUS


TOP COMPANIES SA (TCSA) is an annual survey that measures the reputation of some of the most visible businesses in the country.

Reputation is a sum total of a business's intent, behaviour and relationships that it develops with important stakeholders.

In existence since 2010, TCSA has established that more reputable companies tend to have a large pool of stakeholders while less reputable companies see their stakeholders, by and large, as shareholders and customers.

The 2018 TCSA results are imminent. This year, the focus is on the relationship between aggregated corporate reputation of all businesses and the economic welfare of the country.

Over the years that TCSA has been a primary feature of the corporate calendar and two important questions have arisen time and time again. Where does your business stand on corporate reputation management? Is it more important or less important than your marketing, advertising and PR?

While the answers are bound to stimulate a healthy debate, corporate reputation stretches beyond your office precinct, customers and staff. Truly reputable corporate citizens cannot extricate their individual performance on a long-term basis from that of the economy, and accordingly from the well-being of the country and its people.

Worrying decline

South Africa's economy has been on a consistent net decline since 2007, this being highlighted by the declining sovereign credit ratings.

The country has been facing an increasing Consumer Price Index, meaning that inflation has been on the rise, especially relative to people's income. This has the impact of depressing living standards and quality of life.

There's a growing concern that business does not seem alarmed by this trend, and, if alarmed, it is not doing enough to reverse this downward spiral, notwithstanding that business is the biggest beneficiary of a functional society.

Big corporates are guilty of the narrowness of being self-centred and focusing mainly on bigger profits, even in an environment where it is becoming increasingly obvious that the opportunity for low-hanging profits no longer exists. …

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